For decades, Americans have been talking about how do we decrease our dependence on foreign oil. Well, my administration has actually begun to do something about it.

Over the last three years, we negotiated the toughest new efficiency standards for cars and trucks in history. We’ve opened millions of new acres for oil and gas exploration. Right now, American oil production is the highest that it’s been in eight years. Eight years. Last year, we relied less on foreign oil than in any of last 16 years. That hasn’t gotten a lot of attention, but that’s important. We’re moving in the right direction when it comes to oil and gas production.

Then he discussed why a blueprint for American-made energy is so important:

[Even] with all this oil production, we only have about 2 percent of the world’s oil reserves. So we got to have an all-out, all-in, all-of-the-above strategy that develops every source of American energy –- a strategy that is cleaner and cheaper and full of new jobs.